Novatek launches commercial production at northern Russian field

MOSCOW, Dec 1 (PRIME) -- Russian independent gas producer Novatek has launched commercial production at the Yarudeiskoye oil field in the Yamalo-Nenets Autonomous District, the company said in a press release on Tuesday.

The average daily output at the field is to reach a projected level of around 3.5 million tonnes of oil on an annualized basis in the near future, the company said.

A total of 36 exploitation wells have been drilled at the field.

The Yarudeiskoye field was discovered in 2008. Its proven and probable reserves amount to 17 billion cubic meters of gas and 34 million tonnes of liquid hydrocarbons. The field is being developed by Yargeo, Novatek’s joint venture with Cyprus-based Nefte Petroleum Limited.

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